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ARTICLE · 05 JULY 2006

Energy Client Alert, July 2006

Powell Goldstein LLP
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On March 6, 2006, ISO New England Inc. together with public utility regulators from four of the six New England states, and many generation owners, transmission owners, and load-serving entities, filed a Settlement Agreement with the Federal Energy Regulatory Commission addressing flaws in New England’s current capacity market.

United StatesEnergy and Natural Resources
Jennifer Hein
Jennifer Hein

FERC Approves Forward Capacity Market for New England

On March 6, 2006, ISO New England Inc. ("ISO-NE"), together with public utility regulators from four of the six New England states, and many generation owners, transmission owners, and load-serving entities, filed a Settlement Agreement with the Federal Energy Regulatory Commission (the "FERC") addressing flaws in New England’s current capacity market. FERC issued an order accepting the proposed Settlement Agreement on June 16, finding that as a package, it presents a just and reasonable outcome, consistent with the public interest. (Docket No. ER03- 563-055.)

The Settlement Agreement establishes a forward capacity market to encourage needed new generation to be built in New England. Annual competitive auctions for generating resources will be held three years ahead of their anticipated need. The forward capacity market will contain a locational element; before each auction, ISO – NE will determine zones based on potential

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